Asked by Tony, Lagrangeville, NY • Fri Dec 12, 2008
We have been in contract for 2 months.Buyers signed contracts. We are ready to close.Buyers had a mortgage commitment contingency in contract.A Rider stated that they had 30 days to get their mortgage or they had to give written notice.It also said they would be allowed to cancel the transaction if they gave notice within the 30 days.Sellers were also given that option.We were told by buyer's agent that they would put a lot down and be ready to close in 30 days.The closing date was set for on or about the 18th of Nov. As weeks went on during the 30 day contingency period we were not getting any input as to their status. We called our lawyers and they called their lawyer.Our lawyer was told that they didn't get a mortgage they could handle.Their bank changed the terms.No written notice sent to us! We had to call.They did not have their Green Cards! Bank found out.Shouldn't their agent be responsible to know if they had Green Cards?
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